The trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, took a surprising turn on Thursday when a witness testified that he alone was responsible for the $2.5 million withdrawn from the apex bank under scrutiny.
Emefiele, who served as CBN governor from 2014 to 2023, is facing a 20-count charge over alleged procurement fraud totaling approximately N1.2 billion. Additionally, the Economic and Financial Crimes Commission (EFCC) claims he obtained $6.23 million under false pretences, allegedly meant for international election observers during the 2023 general elections.
During Thursday’s court session, EFCC presented its 11th witness, Bashirudeen Maishanu, a Deputy Director in CBN’s Banking Supervision Department. Under cross-examination by defense lawyer Matthew Burkaa, SAN, Maishanu admitted that he personally withdrew $2.5 million from the $6.23 million in question.
He explained that he had previously confessed to a special investigator, Jim Obaze—appointed by President Bola Tinubu to probe CBN activities under Emefiele. Maishanu said he only realized the withdrawal was fraudulent after reviewing documents presented by Obaze, which showed forged signatures of former President Muhammadu Buhari and the former Secretary to the Government of the Federation, Boss Mustapha.
“The disappearance of the $6.23 million rests on me. I was inadvertently involved, and Mr. Eric Ocheme, Emefiele’s PA, is unreachable. I did not know it was fraud at the time,” Maishanu told the court.
He emphasized that he never met Emefiele directly or handed him any money related to the withdrawal. All instructions came from Ocheme, and he only became aware of the governor’s approval when meeting with the special investigator.
Maishanu also admitted that although he began to suspect irregularities when some funds were given to his friend, he never officially reported it to the CBN. He was suspended but not charged and has since returned a significant portion of the $2.5 million to the federal government.
The witness detailed how in January 2023, Emefiele’s PA sent an intermediary, Ahmed, to inform him of a transaction supposedly approved by the President. Ahmed later confirmed the governor’s approval, and on February 8, 2023, $6.23 million was withdrawn from the Garki, Abuja branch of CBN. Maishanu and two others received $2.5 million to share, describing it as “outrageous” since no prior arrangement existed.
Justice Hamza Muazu adjourned the case until Friday.
The EFCC, in an amended charge (FCT/HC/CR/577/2023), also alleges that Emefiele awarded contracts for 43 vehicles between 2018 and 2020 worth N1.2 billion and gave an improper advantage to CBN staffer Mrs. Sa’adatu Ramallan Yaro by awarding her company, April 1616 Investment Ltd, a contract for 37 Toyota Hilux vehicles valued at N854 million.
